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Deleting a budget is very easy. What's important to remember is that deleting a budget does not delete transactions visible inside. It's also very easy to re-create a budget.
To delete a budget, please first switch to the Budgets section of MoneyWiz and tap on the pencil icon in the top-right to enter edit mode. Once there, tap on the red delete button next to the budget you want to delete and confirm.
Deleting a budget does not mean deleting transactions stored inside. If you wish to do that, please delete the transactions separately or consider deleting the entire account.